Brera Holdings (SLMT) is asking shareholders to approve a full corporate reinvention. The Nasdaq-listed company wants to change its name to Solmate Infrastructure PLC and plant its flag firmly in the Solana blockchain ecosystem — based out of Abu Dhabi.
The board approved the proposals on Tuesday, which also include a 10-for-1 reverse stock split. Under the split, every 10 Class A or Class B shares would consolidate into one share, with the nominal value rising from $0.05 to $0.50.
No fractional shares will be issued. The stock will keep trading under the SLMT ticker on Nasdaq after the split takes effect.
The shareholder vote is set for April 7, 2026. The board retains the right to scrap the reverse split even after shareholders approve it.
The reverse split won’t change shareholders’ percentage ownership in the company, aside from minor adjustments for fractional rounding.
The pivot away from sports is accelerating. Brera plans to wind down two of its soccer teams — Brera Tchumene and Brera IIch — while holding onto Italian football club Juve Stabia.
Cash freed up from those discontinued operations will go toward Solana infrastructure buildout in the UAE.
The sports-to-blockchain journey started in September 2025, when the company raised $300 million through an oversubscribed PIPE financing round. Backers included the Solana Foundation, ARK Invest, RockawayX, and UAE-based Pulsar Group.
In November 2025, Solmate launched what it called the first bare-metal Solana validator in the UAE, offering zero-commission SOL staking for partners and the public.
Earlier this year, the company dropped its planned merger with RockawayX. It cited “significantly changed market conditions” as the reason. Despite that, both companies said they’d keep their strategic partnership intact.
Solmate CEO Marco Santori pointed to Abu Dhabi as a key reason for the move. “By focusing our capital and corporate identity on Solana, we are positioning ourselves to be a central player in the region’s rapidly expanding digital economy,” he said.
The company also named Erez Simha as an independent director and Audit Committee chair. Avram Grant was appointed as Head of Football Operations to manage the remaining sports assets.
The stock closed down 5.17% on Tuesday. It has lost over 82% of its value in the past six months, trading at $1.10 against a 52-week high of $52.95. The company’s market cap currently sits at $95 million.
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